The Four Steps of the Mortgage Loan Process:The Loan Process: Four Steps

In the market for a mortgage? We'd be thrilled to answer your questions about your mortgage needs! Give us a call today at 352-347-3303. Ready to begin? Apply Here.

There is no doubt ; getting a mortgage loan is a complicated process. You wouldn't be here on our site if it were possible to fill out a simple loan application and receive the best loan check cut in one day. We do most of the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.

Getting a mortgage loan involves four major steps.

Step one: determine how much you can borrow

A couple of factors determine this amount. What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? Use the calculators on our website to determine your monthly payment amount. We'll also help you through different scenarios by asking a few simple questions. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.

Step two: pre-qualify for your loan

This step is where Mortgage Xperts can begin to save you money. You will supply information on your employment, assets, and your residence history. You'll provide information on your employment, asset, and residence history. We get your permission to pull your credit score and report. After we've reviewed your information, we'll provide a pre-qualification letter. Handle it with care — it is a great tool for buying your new home! Your real estate agent should use your pre-qual (as they may call it) to make the best offer on the home you choose. The pre-qual letter gives you buying clout! While you're looking for a new house with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

Once you have made an offer and the sellers accept it, it's time to apply for the loan. It's very easy, and you can apply online, right here on our site. After the seller has accepted your offer and you have applied for your loan, we will order the professional appraisal on the home.

Step four: your loan is funded

The real estate agents will find a title company to handle the "funding" and closing. We'll coordinate with this company to make sure all the papers your lender will require are in order, and you'll probably}likely sign everything at their officeWe do all the work to coordinate with this company to set your closing date. Since you won't need to worry about these details, you get to think about moving logistics, paint colors, carpet, and the details involved in moving into a new house.

You've answered a few questions, given us detailed information, applied , and the next thing you know, you are moving in! Mortgage Xperts is a mortgage specialist; you're not — so take care of the details. Doesn't that make sense?

Have questions about the loan process? Call Mortgage Xperts at 352-347-3303. Mortgage Xperts answers loan process questions every day.

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